Buying A New House... Need Some Advice, Please! | GTAMotorcycle.com

Buying A New House... Need Some Advice, Please!

Mina

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I plan on buying a house this year and I'm still debating between new vs used.

I know there are benefits to both.
A used house most likely come with upgrades such as hardwood flooring, finished/semi-finished basements, etc.
That also comes at a premium and I'm not sure if it's really worth it.

A new house will have no problems that need fixing and it will be built to my taste.
Correct me if I'm wrong, but the value of the house goes up once it's finished and as more houses/areas develop around it, it should go up even more. Correct?

My real question is, where do I go to shop for a new house?
Any websites? Any specific builders I should look for or avoid?
I'd like to stay in Durham (Ajax/Whitby) if that makes a difference.

If you can offer any more pros/cons on new vs used that would be great as well.
Any insight on the topic is appreciated.

Thanks!
 
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Used usually means older established 'hoods. Things are generally within walking distances. That's important to some. That's all I got so far. Will check back later.
 
I plan on buying a house this year and I'm still debating between new vs used.

I know there are benefits to both.
A used house most likely come with upgrades such as hardwood flooring, finished/semi-finished basements, etc.
That also comes at a premium and I'm not sure if it's really worth it.

A new house will have no problems that need fixing and it will be built to my taste.
Correct me if I'm wrong, but the value of the house goes up once it's finished and as more houses/areas develop around it, it should go up even more. Correct?

My real question is, where do I go to shop for a new house?
Any websites? Any specific builders I should look for or avoid?
I'd like to stay in Durham (Ajax/Whitby) if that makes a difference.

If you can offer any more pros/cons on new vs used that would be great as well.
Any insight on the topic is appreciated.

Thanks!

Don't fool yourself, new houses probably have more problems then used houses. Your best bet is to but a house that's about 6yrs old. Usually all major problems are fixed within the warranty period.

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We bought our first house new. It was one of the first ones in the devolepment. I would never do that again. Muddy roads, mud lawn, construction noise and traffic. No fences or deck.
The house we're in now was built about 1980 and the lot was severed off a century home in the old part of town. We've got mature trees, a lot big enough so that I could build a separate shop out back.
We have had to re-model the kitchen and our en-suite bath. I still need to do the kids bathroom, but I'm waiting for the last kid to leave. She'll be leaving for school this September.....I hope the first one doesn't move back.:lmao::lmao::lmao::lmao::lmao::lmao:
 
New does not = no problems. Old does not = no problems.

Here is what you get with new
- typically cheaper entry price, prices typically go up for phases 2,3,4. Also in 6-7 years that neighbourhood will be more established and houses should be worth more.
- often have to live in a construction site for months possibly even years (mud, dusty, dirty)
- have many more out of pocket costs (fencing, landscaping, sometimes driveway)
- a lot of shoddy builders out there so you need to be selective
If you're single and plan on staying put for 5+ yrs, and you want to pick your own layout, your own upgrades (cupboards, flooring, lighting, countertops etc), then new may be just the ticket.

With resale you get
- already established neighbourhood
- established lanscaping (mature trees etc)
- depending on age, some major ticket items already done (roof, plumbing, wiring, furnace)
- a lot of the minor issues from a new build have been fixed.
There are a lot more reasons to go this way. What you really need is to get in touch with a real estate agent and go see some houses. As a buyer it doesn't cost you a thing to work with an agent but a good agent can be invaluable if you are new to the game. A lot of new buyers make decisions with their emotions, having someone on your side to help keep that in check is important. Although not neccessary, they can also be helpful when buying new. With that said, these guys are not created equally.
 
Location and quality.

You can't change the location and changing quality is expensive after the fact.

If a builder wants to build cheap, the house will come with windows that need replacing in ten years, ten year cupboards, driveway and roof. The cheap stuff will barely last the warrantee period.

Pick where you want to live based on your needs and wants and research the builder.

To me the biggest advantage of a resale home is that you can survey the neighbourhood and see who your next door neighbour is.
 
Keep in mind a resale home will close when the contract indicates. Delays with a new home construction can cause a lot of stress, especially if you're having to sell an existing home.
 
It really depends on you and what your priorities are. As already mentioned, buying a new home doesn't necessarily guarantee that there won't be any issues. It's definitely true when they say that they don't build 'em like they used to.

For me, location was the most important factor. I bought a house that's about 5 minutes from where I grew up, but something like that may not be important to everyone. But the way I see it - I can change my house to my tastes, but the neighbourhood is out of my control. My house is about 30 years old in a very established neighbourhood. A lot of major expenses have already been taken care of by the previous owner, and now I can spend as long as I want slowly personalizing and updating the house as I can afford it. Some things are out of date, but are still in good shape, so nothing is an emergency.

If you decide to look at resale homes, make sure you ask specific questions about big-ticket items like the roof, furnace, A/C, windows, electrical, etc. If the bare bones are good, then maybe you can forgive an ugly paint colour or a tacky carpet (at least for a little while).
 
nothing except location matters. imo
 
I just bought one of the last homes left on Brookling Villages in Whitby, couldn't be happier with the house and I would have never bought used.

It's true the quality of the finishes can be a problem with a new house but i prefer to deal with that then a moldy home, or a major issue i have to break the bank on.

HWY 407 is expanding really close to my house and the price is just going to go up without me having to invest one more cent. An holder house you have to re-do the kitchen, bathrooms etc in order to sell it

Just my opinion
 
If you can offer any more pros/cons on new vs used that would be great as well.
Any insight on the topic is appreciated.

Thanks!

Don't forget house insurance. Waaaay cheaper on a new house, than a risky old one that might have vermiculite, shoddy wiring, leaky basements, mold, rotting foundation, poor roof, etc.
 
Nothing wrong with the right new home. Usually they're in a cookie cutter survey where the sheeple graze. Unimaginative but good if that's your thang. The European jet set has been dealing with old homes for centuries.
 
^ That's all dependent on how old, though. My business parter went through hell with a 100+ year old house near downtown Toronto (nowadays, it would be called a townhouse). For a house built 5 - 10 years ago, there is no appreciable difference in building codes and materials. Asbestos / urea formaldehyde insulation etc went out in the 1970's. Uninsulated (brutal heating bills and still uncomfortable) 1960's and before. Knob and tube wiring 1950's and before. Leaky basements depends mostly on location and how well it was built, not when (a new house can have this problem). Mold etc depends on ventilation, and new houses can have this problem if the ventilation is not right. Roof ... varies all over the map. A replacement roof that is 10 years old but was a good job with quality materials may last longer than a new one with cheap materials or improperly installed.
 
Devil in details obviously. One needs to be knowledgable for sure. Know what you're getting into. How hands on are you? If not hands on, can you manage the project of old home reno? Lots of variables here to discuss.
I am totally hands on. Have rebuilt my house top to bottom. Most neighbours not so much and it shows. It's not for everybody.
 
Our first house was brand new construction and had finishing issues and was a construction site for our entire life there (and still is 8 yrs later). I finished the basement myself at a cost of $10,000. We sold it 2 years after we bought it but only cleared $5000 profit. The problem with new is it's hard to add value without sitting on the property for 5 years. My old next door neighbor just listed his house listed for $125,000 over the original purchase price.
Our second house was pre WW2, I invested $6000 in a new bathroom and sold it and made $30,000 profit in 2 years.
We are now in our 3rd which was built in the 70's but was fully renovated a few years ago. I've upgraded the pool and patio and built a workshop but am finding the same problems that a new home come with. There is no other way I can increase the value because of the recent renos unless we stay put.
What I would do, is buy a home that is functional but needs updating. Take your time renoing then flip in a few years time.
 
All good stuff said above.
I've had new,30yr, 10yr, 140yr old, 40+- and now in a 30yr old here, Its not that they dont all have issues, the issues are different. We had electric heat, stupid expensive, urea in a attic, asbestos flooring tile, a house built over an underground spring (free water but serious humidity) and idiots and drunks for nieghbors.
A lot of the stuff they call upgrades in new homes are really badly done and in 8-10 yrs look awful, nothing worse than shoddy ceramic.

In a resale you often get lots of stuff like garage door openers, better light fixtures, POOL, hot tub , gas BBQ hookups. But its just stuff and money fixes everything.
I like the mature 30-50ft trees in older areas. One thing you cant fix is parking, the driveway you get your stuck with.
 
just bought a 30 year old house in whitby, very happy. i mainly bought used as i wanted more land which you dont get with the new houses unless you have the money to buy big which i dont. i looked at a few places in brooklyn but found them to be very cookie cutter homes with square gardens.

for me good neighbours are important, and i was able to meet them before i bought.
i wanted a house that needed work that i could find cheap but i didnt find one i liked so i bought one that was older style appliances but still work well and more then liveable. glad i didnt buy one i had to gut as the the total price with lawyers and such was more then i banked so had less to spend on the house, and your mortgage will only cover the price of the house.
 
I have been through 3 homes non new,I work for one of the utility companys and the new build that they make now have poor finishes,as stated above new means no fence,mud,non finished basemeant,put money into a resale and you may make more in the long run,just my oponion.
 
My first house was new, but i bought the last phase of houses, so i only had to deal with noise for about one year, I was usually at work when the air nailers were firing.

Good thing about new is when you put up a fence you pay for it your self, and that 0% for 12 months comes in handy from home depot.
Same goes for a deck, and basement. All cash, so it is not worked into your mortgage. $1000 fence over 15 years of mortgage payments will be a very expensive fence. So when you go to sell it you have more money in your pocket for your next house.

Also, pick the right builder. We went door to door in the areas where we wanted to buy, and ask home owners about the experience of the builder. People are pretty friendly, some even invite you in to tour there house. Needless to say, i would stay away from anything East Forest homes has built (kitchener-waterloo)

I'm in the process of flipping a house right now, the next flip i do will be a brand new home.

Flip a new house? Yes.

Screw all the upgrades of hardwood, pot lights, nicer tile, etc. Just upgrade your windows, doors, and insulation. After flipping my current house i would just go new with low end upgrades (carpet, cheap kitchen) and start ripping it out and lay your own hardwood, tiles etc. A random builder wanted $7 a square foot for bamboo that costs $1.99 a square foot, plus worked into your mortgage.

This only applies if you are handy.

also, i would suggest getting a house with no appliance, again take advantage of the %0 financing from the brick, future shop, etc so it is not bundled with your mortgage (new or used)
 
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Also, pick the right builder. We went door to door in the areas where we wanted to buy, and ask home owners about the experience of the builder.

Many years ago I worked in the central vacuum business. Had a lot of contact with recently purchased b/n home owners. The reports were rarely glowing, some downright nasty. Took the sheen off of the b/n thing for me. One of the most common head shakers was that everything was always out of square. Drywall mud can only fix so much.
 

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